Continuous online auction system and method

Abstract

A continuous online auction system and method enabling the auctioning of products. An online product auction system comprises an auction center having a microprocessor operably connected to a storage media. The online product auction system also includes a product receive module configured to execute in the auction center. The product receive module is further configured to receive a set of product data for a first product to be auctioned wherein the product data includes one or more seller parameters. The online product auction system further includes a seller proxy module configured to execute in the auction center. The seller proxy module is configured to modify one or more seller parameters for the product based upon one or more auction parameters for the first product.

1. An online product auction system comprising an auction center, said auction center includes a microprocessor operably connected to a storage media, said product auction system comprising:
 a current high bid value for a first product; 
 a first bid data for said first product, said first bid data includes a first bid and a second bid, said first bid is greater than said current high bid value, and said second bid is greater than said first bid; 
 a second bid data for said first product, said second bid data includes a third bid and a fourth bid, said third bid is greater than said current high bid value, and said fourth bid is greater than said third bid; 
 a bid processing module which calculates and updates said current high bid for said first product; 
 a start minimum bid; 
 a low minimum bid; 
 a current minimum bid; wherein the current minimum bid, at the start of an auction, is equal to the start minimum bid; and 
 a seller proxy module configured to periodically determine whether a bid at least as great as the current minimum bid has been accepted, and if no such bid has been accepted, to adjust the current minimum bid downward to a value less than the start minimum bid but at least as great as the low minimum bid. 
 
   
   
     2. The auction system as defined in  claim 1 , wherein said bid processing module further comprises:
 a first calculation mode which calculates said high bid for said first product when said product auction system is in a first state; and 
 a second calculation mode which calculates said high bid for said first product when said product auction system is in a second state. 
 
   
   
     3. An online product auction system comprising an auction center, said auction center includes a microprocessor operably connected to a storage media, said product auction system comprising:
 a current high bid for a first product, said current high bid is associated with a first bid data wherein said first bid data includes a first bid and a second bid, said first bid is greater than said current high bid, and said second bid is greater than said first bid; 
 a second bid data for said first product, said second bid data includes a third bid and a fourth bid, said third bid is greater than said current high bid, and said fourth bid is greater than said third bid; 
 a start minimum bid; 
 a low minimum bid; 
 a current minimum bid; wherein the current minimum bid, at the start of an auction, is equal to the start minimum bid; and 
 a seller proxy module configured to periodically determine whether a bid at least as great as the current minimum bid has been accepted, and if no such bid has been accepted, to adjust the current minimum bid downward to a value less than the start minimum bid but at least as great as the low minimum bid. 
 
   
   
     4. The online product auction system of  claim 1 ,  2 , or  3 , further comprising a decrement amount, wherein the seller proxy module adjusts the current minimum bid downward by the decrement amount.